JGP Wealth Management LLC Purchases 1,412 Shares of U.S. Bancorp $USB

JGP Wealth Management LLC raised its stake in U.S. Bancorp (NYSE:USB) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,751 shares of the financial services provider’s stock after acquiring an additional 1,412 shares during the quarter. JGP Wealth Management LLC’s holdings in U.S. Bancorp were worth $894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mechanics Financial Corp boosted its stake in U.S. Bancorp by 5.3% in the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 240 shares during the last quarter. Northern Financial Advisors Inc boosted its stake in U.S. Bancorp by 5.0% in the second quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 241 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE boosted its stake in U.S. Bancorp by 0.5% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after acquiring an additional 249 shares during the last quarter. Bestgate Wealth Advisors LLC boosted its stake in U.S. Bancorp by 3.3% in the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 253 shares during the last quarter. Finally, Atlantic Family Wealth LLC boosted its stake in U.S. Bancorp by 4.2% in the first quarter. Atlantic Family Wealth LLC now owns 6,312 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 254 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research analyst reports. Raymond James Financial upgraded shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $51.00 to $57.00 in a research note on Monday, July 7th. UBS Group upped their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Morgan Stanley set a $56.00 price target on shares of U.S. Bancorp and gave the company an “equal weight” rating in a research note on Monday, September 29th. Oppenheimer dropped their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. Finally, Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average price target of $53.11.

Insider Activity at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president owned 70,346 shares of the company’s stock, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $47.06 on Wednesday. The firm’s 50 day simple moving average is $47.84 and its 200 day simple moving average is $44.75. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $73.23 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The business had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. U.S. Bancorp’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 EPS. U.S. Bancorp has set its FY 2025 guidance at EPS. As a group, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is currently 49.76%.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.